Tuesday, 9:12 AM · a CIM lands
Confidential · Project JuniperPage 14 of 62

Channel Overview

Amazon represents approximately 22% of net revenue and grew 41% year over year.

that's the whole page

One sentence about the biggest shelf the brand has.

62 pages on the company. One line on the shelf where a fifth of the revenue lives.

9:14 AM · on Amazon

So you do what everyone does. You type the name.

the brand
The brand #1
$17.98 $24.00
sold by 93 sellers
Competitor AD
$21.00
sold by brand
The brand #2
$16.49 $24.00
sold by Amazon.com
Competitor AD
$19.99
sold by brand
everything below here is a scroll on a phone
The brand #3
$18.75
sold by reseller, 3 in stock
The brand 2-pack #4
$33.00
duplicate listing
Competitor #5
$22.50
sold by brand
The brand #6
$15.99 $24.00
counterfeit complaints in reviews

A real $30M brand, before anyone fixed it. 93 sellers on one listing. No MAP. Amazon undercutting. Ninety seconds of looking.

Now flip it. You're the deal team.

~15
offers a year
~5
you win
4 to 5 yrs
to make each one work

Most of the work is diligence. All of it happens before you have account access.

10 business days · no data room

Every brand gets the same three questions.

Demand
Does the brand own its customers, or rent them from Amazon?
4.5 stars, counterfeit complaints in the reviews
~$800K a month on the top 40 products, $0 in ads
→ what it is worth
Control
Who controls the shelf, the price, the margin?
1 to 93 sellers per listing
No MAP detected, Amazon undercutting
→ what is leaking
Engine
Can the team run it after you buy?
2,179 listings, duplicate bundles everywhere
Titles with no keywords, thin bullets, no A+
→ how fast it is fixable

Here is the catalog. 2,179 listings.

40 products carry ~$800K a month2,139 dilute the shelf

40 products do the work. 2,139 give resellers places to hide. That is a control problem. Control problems fix fast.

Drag the sellers down. Watch the margin come home.

Price on the page
$17.98
MAP is $24.00
Margin kept by brand
31%
of the sale
Buy Box
Random reseller
changes hourly
Who answers the reviews:nobody

Fewer sellers. Price holds. Brand owns the Buy Box. That is EBITDA before a single new customer.

Same brand. Two years later.

$60K
BEFORE
$2.1M
YEAR ONE
$4.2M
YEAR TWO

Annual sales on Amazon. 50+ counterfeits gone. 3,000+ reviews. Top beauty seller on Prime Day. The demand was always there.

This is the page that goes in the IC memo.

Project Juniper · Marketplace readDay 10

Amazon: what the CIM says, what the shelf says, what it is worth

Demand4.5★, counterfeit complaints · $800K/mo top 40 · $0 adsReal demand, unpaid. Ads alone add 20 to 30% in year one.
Control1 to 93 sellers · no MAP · Amazon undercutting at $16.49~25% of channel margin leaking to resellers. Recoverable in 90 days.
Engine2,179 listings · 40 carry the business · no A+ · no ownerNeeds one owner and a catalog cleanup, not a team. 3 to 6 months.
VerdictThe 22% is real and under-managed. Underwrite the channel at 1.5x current run rate by year two; the fix is control, not demand. Do not pay for the 41% growth, it is resellers restocking.

One page. A number, what it means, what it is worth. Written for people who will never open Seller Central.

And the same person stays.

Diligence · 10 days
The read, before the bid
Fixed fee. No data room.
Go to market · 3 weeks
The 90-day plan, LOI to close
Inside the account. Sized in EBITDA. Ready on day one.
Execution · 18 months
Run it with the team
Quarterly read to the IC. Add-ons included.

Not a full-time operating partner. Not an agency. Same person, before and after.

Good to good enough.

Inside your hold period. Not perfect after it.

Two or three points on the board in year one. A clean story for the next buyer in year four.

Monday.

1
Send me one live target.
A name is enough. Ten days later you have the page.
1
Or one you already own.
First one is free. Three weeks, a 90-day plan for the board deck.
20
Minutes.
calendly.com/mulvany or rmulvany@gmail.com. No deck.
Receipts

The brand. A real beauty brand, founded 2013, about $30M in sales in 2015, audited before any work began. Findings from that audit: 2,179 listings, 1 to 93 sellers per listing with Amazon as the low-price seller, no MAP detected, 4.5-star average with counterfeit complaints, about $800K a month across the top 40 products, no ad program. Search results on this page are a reconstruction of that state, not a live screenshot.

The result. Annual Amazon sales $60K before, $2.1M in year one, $4.2M in year two. 50+ counterfeit listings removed, 3,000+ reviews, 10+ new-product best sellers, top beauty seller on Prime Day.

The IC page. Illustrative. Margin and growth figures on it are typical ranges from similar reads, not this brand's numbers. Project Juniper is a placeholder name.

Me. Ryan Mulvany. Founder of Quiverr, a Top 100 Platinum Amazon seller and agency, $1B+ in sales across 70+ CPG brands, sold to Advantage Solutions in 2017. Brands I ran on Amazon later sold for $2B+ combined: Drunk Elephant, Quest, OUAI, Sun Bum, Health Warrior. Services, pricing, and the full framework live on the companion page.

Ryan Mulvany · Encinitas, California